HRS LAUNCHES INTERNATIONAL EXPANSION OUTSIDE EUROPE ORDER FOR A HRS HYDROGEN REFUELING STATION IN SAUDI ARABIA

Grenoble, 18 June 2024 - HRS , European designer and manufacturer of hydrogen refueling stations, announces the first order for an HRS14[1] hydrogen station outside Europe, from a Saudi Arabian developer.

With considerable renewable energy production potential in both wind and solar power, and a strong desire to position themselves as leaders in the energy transition, through a number of ambitious national development plans, the countries of the Middle East demonstrated their commitment at COP28 by investing massively in the deployment of green hydrogen production infrastructures.

Hydrogen mobility will play a significant role in the decarbonization trajectory of this region of the world, in both public and private transport, presenting significant economic opportunities for HRS.

The HRS14 station, ordered by this national energy company, a major player in the region, will supply a planned fleet of 20 buses and light vehicles from July 2024. The companies intend to communicate further once the station has been installed in the second half of 2024.

This first station to be sold outside Europe marks a decisive step in HRS's strategy of international development in high-potential zones, particularly in the Middle East, where numerous commercial opportunities have been identified. HRS aims to play a major role in this fast-growing market, using its technological and industrial expertise to meet the growing needs of players in the region.

Hassen Rachedi, CEO and founder of HRS, commented: "This first sale outside Europe is a crucial step in our international growth strategy. The order for our HRS station from a major Middle Eastern energy company demonstrates our ability to deploy our hydrogen refueling solutions in just a few weeks, even outside Europe. The considerable commercial opportunities in this region mean we can look forward to potential future sales of larger capacity stations to support the deployment of hydrogen mobility, in fostering of the energy transition."

[1] Station trade name from 200 kg/day or up to 14 kg/hour

ABOUT HRS (Hydrogen Refueling Solutions)

HRS is one of the world leaders in large-capacity hydrogen refuelling stations. HRS offers a complete and unique range of modular and scalable stations, from 200 kg/day to 4 tonnes/day.

A pure player, from design to commissioning of the stations, HRS has state-of-the-art industrial production facilities capable of assembling up to 180 stations a year, with lead times of 6 to 12 weeks. This industrial site includes a test area, the only one of its kind in Europe, to test and trial the range of stations and develop future products and solutions for the hydrogen mobility market.

HRS also proposes a complete range of services, including maintenance an on-call support 24/7/365. The performance of stations installed in Europe and around the world is monitored in real time from its state-of-the-art control room.

HRS now has one of the largest installed bases of high-capacity stations on the market, with 18 200 kg/day stations, giving a combined capacity of nearly 4 tonnes/day. All the refueling stations are equipped with dual-pressure pumps and nozzles for 350 bar, 350 HF, and 700 bar, thus catering to the full range of hydrogen mobility needs.

HRS stands out for its rigorous economic discipline, offering long-term financial solidity while continuing to allocate substantial resources to R&D, ensuring its position at the forefront of innovation.

During the 2022/2023 fiscal year, HRS achieved a turnover of €30.1 million, growing by +77%, and aims to achieve a turnover of €85 million by 2026, incorporating recurring revenue streams from services associated with its continuously expanding installed base.

ISIN code: FR0014001PM5 - ticker symbol: ALHRS

For more information, visit our website www.hydrogen-refueling-solutions.fr/en/

CONTACTS

[1] Station trade name from 200 kg/day or up to 14 kg/hour